Songa Venus - first optional well exercised under the Shell Development (Australia) contract

Songa Offshore SE is pleased to announce that the first of three optional wells has been declared by Shell Development (Australia) under the contract for Songa Venus. The well has further been assigned to MEO Australia Limited. The well has an estimated duration of 30 days.  Shell Development (Australia) continues to have the right to exercise up to two additional optional wells with an estimated duration of 50 to 60 days each. Songa Venus is currently drilling the first well under the mentioned program. Limassol, 21 July 2010 This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act) [HUG#1433393] This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Songa Offshore SE via Thomson Reuters ONE